Sandbox Unveils First 20 Use Cases
Following a lengthy wait and roughly 90 applications received in April, the first set of blockchain use cases to appear in Europe’s regulatory sandbox was publicly unveiled on July 3. The plan, which was first announced in 2020, intends to bridge the regulatory gap between European countries and cryptocurrency enterprises.
According to the European Commission, the first batch includes 20 initiatives led by enterprises in finance and capital markets, telecoms and information technology, global trade, transportation, and cross-sectoral projects.
The European Commission and the European Blockchain Partnership announced plans to establish a regulatory sandbox for blockchain technology in 2020. The projects are spread across five European regions, with Western Europe having 14 use cases, Southern Europe having 10 projects, Nordics and Central Europe having eight projects, and Eastern Europe having seven projects. The goal is to foster dialogue between regulators, crypto projects, and public authorities.
(With inputs from Shikha Singh)
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